Ryan’s and Reese’s Real Estate Troubles: He Sells at a Loss, She Slashes Her Price

Reese Witherspoon and ex Ryan Phillippe seem to have more and more in common these days. In addition to having two children together, both have moved on to new relationships since divorcing six years ago, both have cute new little ones under the age of 2 … and both have had trouble unloading some pretty pricey pieces of real estate lately.

But this week, Phillippe officially won the race to find a buyer for the home he’s selling. The “Crash” star closed on the sale of his 7,477-square-foot Hollywood Hills home for $6 million, according to real estate website Zillow.

But the actor was clearly hoping for more … at least at first. After purchasing the 5-bedroom, 6.5-bathroom pad for $7.175 million in 2008 (the year after his divorce was finalized), he listed it at the end of 2010 for $7.45 million. After striking out at the time, he took the place off the market before relisting it again last summer for $6.995 million. Fast forward nine months and his sale is complete, though for a million less than his most recent asking price.

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The home Phllippe just sold. (Zillow)

The home, dubbed “Rising Zen” after it was built in 1998 thanks to its combo of Asian and modern architecture, features a media room, gourmet kitchen, pool, outdoor cabana with firepit, and city views. The 38-year-old already owns another home in Los Angeles and a property in his home state of Delaware.

Unfortunately for his ex, it looks like the sale of her Ojai, California, ranch is heading down the same path as Phillippe’s.

The “This Means War” actress’ listing of her Ojai, California, ranch made plenty of headlines back in September, thanks to the fact it was both the location of Witherspoon’s 2011 wedding to new hubby Jim Toth, and served as hideout for her pal Robert Pattinson in the wake of girlfriend Kristen Stewart’s cheating scandal.

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The Ojai home Reese is still trying to unload. (Zillow)

After listing the 7-acre property for $10 million, she slashed the asking price by more than $1 million, to $8.9 million, a couple of months later, and, this week, reduced it by another $1.65 million. She’s now offering the ranch for $7.25 million.

Though the price tag is still on the higher end of the Ojai market, realtor Billy Rose, whose Los Angeles-based real estate firm The Agency has the listing, told omg! last September, "It's an extraordinarily large piece of property, a highly published home, and it's got Wallace Neff as part of its legacy."

Acclaimed architect Neff designed the ranch's main house, which has four bedrooms and three and a half baths, in 1923 for glassware magnate Edward Drummond Libbey. In addition to the main house, the estate, which sits on nearly seven acres, also includes a swimming pool, barn, and horse paddock as well as multiple guest cottages, which contain an additional five bedrooms.

All is not lost for Reese, however. The mom of three bought the home back in 2008 (just like Ryan!) for $5.8 million, so even if she put a few hundred thousand dollars worth of renovations into it, she may still wind up making a profit.